Maybe in 5-10 years they will appreciate and cashflow but it is not my cup of tea for instant returns. 

It is effective on March 4, 2021, and will replace the Homestay regulations. ...General InformationShort Term Rental regulations apply to dwelling units that are used for overnight lodging accommodations that are provided to renters for no longer than 30 days for compensation.

I can't say I've always followed that principle, because an instant payday is undoubtedly nice.

No matter where you focus, you'll have company.I buy single family homes in one target zip code, drilling down into a select few neighborhoods by a development I believe is going to create extreme appreciation and elevate the type of tenant looking to occupy the walkable dwellings.

Even with the "instant equity" from appraisal, you still only have 11% equity.

Best is to find that slight fixer with some value added. ie: CA zoning laws are allowing ADU's [accessory dwelling units] and even more aggressive laws are coming out next yearI take it even one step further and rent furnished rentals to nurses and other professionals.

try Dwell Home Market in Tampa. 

@Sasha Fukuda - section 8 in most areas has a long waiting list of people who want to get the vouchers, so that’s not an instant solution for most people who have lost their jobs.

My banker said it's iffy since the 2nd dwelling is not an ADU. 

The vacant dwelling policy is more static.